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Rustomjee Group company Keystone Realtors closes with 3% gains on debut

On its debut, Keystone Realtors traded with 4.16 lakh shares on the India's oldest stock exchange, and 58.63 lakh shares on the NSE.

November 24, 2022 / 05:14 PM IST
Keystone Realtors

Keystone Realtors

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Real estate developer Rustomjee Group-owned Keystone Realtors' shares closed the first day with 3 percent gains despite muted response to its initial public offering, thanks to the healthy equity market mood.

The stock maintained its issue price of Rs 541 per share throughout the session. It touched an intraday high of Rs 569.95 and low of Rs 548 after opening the debut session at Rs 555.

Finally, it settled the day higher by 2.93 percent at Rs 556.85 on the NSE, while the closing price on BSE was Rs 557.80, up 3.11 percent.

In terms of volume, Keystone Realtors traded with 4.16 lakh shares on the India's oldest stock exchange BSE, and 58.63 lakh shares on the NSE.

The BSE Sensex hit the highest ever level of 62,412.33 on Thursday and both the benchmarks ended at record closing high with more than a percent gains.

Keystone Realtors, having a strong presence in Mumbai Metropolitan Region, and one of the prominent real estate developer, had completed 32 real estate projects by June 2022.

Also read: Keystone's modest debut | Does Street find value here?

Currently, there are 12 ongoing projects and 21 forthcoming projects across the Mumbai Metropolitan Region MMR, under the Rustomjee brand.

The company has raised Rs 635 crore via its public issue, including fresh issue of Rs 560 crore. The price band for the offer was Rs 514-541 per share.
Sunil Shankar Matkar
first published: Nov 24, 2022 05:14 pm